LONDON, June 19 (Bernama-BUSINESS WIRE) — Quant, the blockchain for finance pioneer, today announced its role as part of the vendor team for Project Rosalind. The project, led by the Bank for International Settlements and Bank of England, explored how application programming interfaces could be used for central bank digital currency systems.
Project Rosalind, directed by the BIS Innovation Hub London Centre, has been testing how APIs could facilitate retail payments in CBDCs and support the exploration of innovative CBDC use cases. The project looked specifically at a public-private sector collaboration model in which the public sector would provide core infrastructure, and the private sector would produce consumer-facing applications. Collaborating with many participants in the ecosystem, the project has proven that APIs could play a key role in enabling CBDC systems to deliver a range of benefits in terms of payments functionality and security.